Three Credit Unions Sign For Online Bill Pay Service From Co Op Financial Services
THREE CREDIT UNIONS SIGN FOR ONLINE BILL PAY SERVICE FROM CO-OP FINANCIAL SERVICES
RANCHO CUCAMONGA, Calif. (March 18, 2013) - In the largest contract so far this year for its online services, CO-OP Financial Services announced that three clients united in their own CUSO have signed renewals for the premium, fully hosted version of CO-OP Bill Pay.
Open Technology Solutions (OTS), Centennial, Colo., is a technology CUSO providing service to Bellco Credit Union, Greenwood, Colo. (www.bellco.org); Bethpage Federal Credit Union, Bethpage, N.Y. (www.bethpagefcu.com); and SECU of Maryland, Linthicum, Md. (www.secumd.org).
The three credit unions worked through OTS to renew contracts for MemberPayPlus, with application programming interface services included for Bellco CU and SECU of Maryland, and fraud monitoring services for all three clients. CO-OP Financial Services anticipates that the three credit unions combined will generate about 300,000 online transactions per month from their members.
"The CO-OP Bill Pay product is an excellent, cost-effective value for our members," said Mike Atkins, CEO of OTS. "It is an outstanding service - CO-OP has the same commitment to serve us as we do to serve our members. Importantly, it is a product designed for credit unions, and thus it is easy to use for both member and institution."
All three credit unions have assets in excess of $2 billion and membership in excess of 200,000: Bellco CU - $2.25 billion in assets, 214,000 members; Bethpage FCU - $5.1 billion in assets, 212,000 members; and SECU of Maryland - $2.6 billion in assets, 231,000 members.
MemberPayPlus gives credit union members access to enhanced functionality including e-bills, expedited payments, person-to-person payments, alerts and mobile device access. CO-OP Bill Pay enables members to receive, view, manage and pay all of their bills when they log-on to their credit union's banking site. The product line is available in three versions to maximize the range of options credit unions can offer their members. In addition, the aggregation of client volume and processing allows CO-OP Financial Services to offer clients bill pay solutions at a significant cost savings.
For more information on CO-OP Bill Pay, visit co-opfs.org.
About CO-OP Financial Services
Based in Rancho Cucamonga, Calif., and founded in 1981, CO-OP
Financial Services is the nation's largest credit union service
organization in terms of number of credit unions, assets and
members. The company specializes in helping credit unions thrive by
providing products and services that make it more convenient for
members to do business with them. With a motto of "Be There. Be
More," CO-OP's products fall into three business lines, including
"Locations," (ATM, shared branching and call center services);
"Card Payments" (debit and credit processing) and "Mobile/ Virtual"
(mobile, online, check imaging, bill pay services). To learn more
visit www.co-opfs.org.
About Open Technology Solutions
Open Technology Solutions (OTS) is a Denver area-based technology CUSO, owned in partnership by Bellco Credit Union, Bethpage Federal Credit Union and SECU of Maryland. The CUSO allows its partner credit unions to share technical expertise and systems, operational efficiencies and opportunities for business collaboration. OTS is located at 8085 South Chester Street, Suite 100, in Centennial, Colo., 80112. To learn more, visit www.open-techs.com.
